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Case Study
On Jan. 12, 2009, 800 Madison Street Urban Renewal, LLC (800 Madison), along with several other affiliates of Tarragon Corporation (the Debtors), filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code. As of the commencement of the bankruptcy cases, Tarragon Corporation was a prominent real estate developer, owner and manager with consolidated assets and liabilities of approximately $840 million and $1 billion, respectively. Tarragon Corporation's common stock was publicly traded on the NASDAQ Global Select Market,
Like many other large real estate developers in the United States, the Debtors' operations, financial condition and liquidity were adversely affected by the financial crisis of 2007 and its aftermath. The Debtors resorted to Chapter 11 to implement a restructuring of their balance sheet.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.